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EUSTX50 and Deutsche Bank charts

US market shows risk aversion to financial sectors since the last 5 days. In addition, Deutsche Bank stock is at all time low while the EUROSTOXX 50 index is printing a potential reversal.

 

Eurostoxx

  • The channel is what we are interested in.
  • The channel defines Eurostoxx 50 price action YTD i.e. channel bound, in the red for the year, pointed downwards.
  • Price now printing potential head and shoulders pattern, resisted by top of channel.
EUSTX50.FX daily chart

EUSTX50.FX daily chart

 

Deutsche Bank

Deutsche Bank weekly chart | TradingView.com

Deutsche Bank weekly chart | TradingView.com

  • So low that it’s CEO is being made fun of.

 

Aversion to financials showing up

  • How to make use of this tool by Sector Select SPDR explained in this post.
1-day and 5-day sector ETFs show risk aversion

1-day and 5-day sector ETFs show risk aversion | Sector Select SPDR

Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’.

“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.

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